Legal & General Investment Management (LGIM) plans to divest from Glencore Plc's thermal coal production due to ESG concerns.
Legal & General Investment Management (LGIM) plans to divest from Glencore Plc, the world's largest coal shipper, due to concerns over its production of thermal coal. LGIM's ESG funds will sell Glencore shares, while non-ESG funds will still hold shares. Glencore has stated its mines will close by 2050, but LGIM seeks more details on how this aligns with a net-zero pathway and the Paris Agreement.
June 26, 2024
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